By Sheri Kasprzak
New York, Oct. 18 - Trubion Pharmaceuticals, Inc. said it plans to settle a $10.4 million private placement as part of its initial public offering.
Wyeth Pharmaceuticals has agreed to buy 800,000 shares of Trubion in the offering at $13.00 per share, the IPO price.
The shares will be purchased on a non-brokered basis.
The company is concurrently conducting a $52 million IPO of 4 million shares. The IPO includes a greenshoe for up to 600,000 additional shares.
Seattle-based Trubion develops treatments for autoimmune disease and cancer.
| Issuer: | Trubion Pharmaceuticals, Inc.
|
| Issue: | Stock
|
| Amount: | $10.4 million
|
| Shares: | 800,000
|
| Price: | $13.00
|
| Warrants: | No
|
| Investor: | Wyeth Pharmaceuticals
|
| Placement agent: | Non-brokered
|
| Announcement date: | Oct. 18
|
| Stock symbol: | Nasdaq: TRBN
|
| Stock price: | Not presently trading
|
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